Assets
Assets
Enovation has initially focused on developing projects in two areas, the US waters of the Gulf of Mexico (GOM) and the North Sea. Both areas are mature producing areas, politically stable, with opportunities in or close to producing fields with existing infrastructure
Enovation is now expanding into the Asia Pacific region and is also interested in and evaluating other international farm-in opportunities
Enovation’s target project types (Where appropriate use of advanced technologies can reduce risk and realise hidden potential) include:
- Small satellite accumulations
- Bypassed’ hydrocarbons within a reservoir
- Tail end production / abandonment deferral
- Gas obscured prospects
- Selected exploration opportunities
Enovation has, together with Breton Energy LLC, formed a 50:50 joint venture company, Seaborne Energy LLC in order to exploit opportunities in oil and gas exploration in the Gulf of Mexico. Initial projects are in gas obscured areas where the use of 4 Component seismic has the potential to enhance imaging of targeted areas around existing reservoirs. By acquiring multi-component P and S-wave data, it is possible to build a better image - and ultimately a better model of potential reservoirs
West Cameron (WC)
Seaborne Energy will secure a Working Interest (WI) in two OCS blocks in West Cameron through the acquisition of a new 4C seismic survey and drilling newly identified prospects within the survey area. 4C seismic data from West Cameron has already been acquired, processed and interpreted. The data quality is significantly better than the previous best data from the area. The prospects identified are close to existing infrastructure which should lead to early completion and production for any successful exploration wells. Drilling is planned in 2007
High Island Area (HIA)
Seaborne Energy will similarly secure a Working Interest (WI) in two OCS blocks in High Island by acquiring a new 4C seismic survey and drilling identified prospects within the survey area. A new 4C seismic survey at High Island has been acquired with improved design criteria that will provide superior data quality to better image the shallow targets. These projects are also close to existing infrastructure to allow for early completion and production
Other Opportunities
Several further leads based on high quality 3D seismic data have been identified elsewhere on the shelf in the Gulf of Mexico and are currently being worked in detail. Further 4C seismic is expected to be acquired in order to earn further interests for Enovation
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A Letter of Intent has been signed with Endeavour International Corporation to jointly review assets that may benefit from a technology driven approach In the UK sector Enovation has started screening exploration acreage and fields suitable for its technology driven business model and to expand its existing portfolio. It is presently carrying out a number of modelling/feasibility studies both in the UK and Norwegian sectors of the North Sea Projects being reviewed include an Electro Magnetic (EM) related exploration project in shallow water and a combined 4C and EM acquisition project that has been proposed for the field development planning phase of a significant discovery |
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Enovation has recently established an office in Singapore which will enable the company to focus on developing strategic opportunities within the South China Sea region and Australia’s North West Shelf With the significant increase in demand for oil and gas and rapid growth of E&P activity within the Asia Pacific region Enovation recognizes the importance for it to establish operations in Southeast Asia which will play a major role in contributing to the growth of Enovation’s business Enovation will initially concentrate on carrying out feasibility studies to improve recoverability of declining fields and determination of near-field tie back potential through the application of advanced geophysical technologies |
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